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Oct. 12, 2021, 9:37 a.m. EDT

Dow drifts higher Tuesday but stock market gains capped as IMF dials back global growth outlook

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By Mark Decambre

U.S.stocks rose tenatively Tuesday morning as inflation worries dogged bullish investors ahead of third-quarter earnings and as the International Monetary Fund cut its outlook for global growth. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -1.30% rose 36 points, or 0.1%, at 34,533, the S&P 500 index /zigman2/quotes/210599714/realtime SPX -1.89% inchded 0.1% higher at 4,364, and the Nasdaq Composite Index /zigman2/quotes/210598365/realtime COMP -2.72% advanced 0.1% at 14,505. The IMF on Tuesday said it expects global GDP to grow by 5.9% in 2021---0.1 percentage point lower than its previous estimate. "This modest headline revision masks large downgrades for some countries," wrote Gita Gopinath, chief economist at the IMF, in a Tuesday blog post. The report comes as investors are wrestling with surging energy prices, which are contributing to pricing pressures across the globe in the wake of the COVID-19 pandemic.

/zigman2/quotes/210598065/realtime
US : Dow Jones Global
34,265.37
-450.02 -1.30%
Volume: 523.88M
Jan. 21, 2022 4:52p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,397.94
-84.79 -1.89%
Volume: 3.20B
Jan. 21, 2022 4:52p
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/zigman2/quotes/210598365/realtime
US : Nasdaq
13,768.92
-385.10 -2.72%
Volume: 5.01M
Jan. 21, 2022 5:16p
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